Can lottery winners’ benefit from… taking it easy? That is what an article by Jack Keating, published on The Province, suggests:
Don McNay, an expert on how lottery winners handle their money, offers four basic tips: Keep it quiet; find some top-notch professional financial advisers; take the money over time instead of a lump sum, if possible; and perhaps give 10 per cent to charity or to something “that’s going to make an impact” in the community.
“Once you tell the world you’re getting that $50 million that you weren’t expecting, it attracts a huge entourage,” McNay, author of the book Son of a Son of a Gambler: Winners, Losers and What to Do When You Win the Lottery, said from Lexington, Ky., on Monday.
“So No. 1 is to try to keep it quiet,” he said. “Try to minimize the publicity as much as possible.”
[…] And he warns that it’s not necessarily a bed of roses for winners.
“The numbers say that 90 per cent of people will run through all the money in five years or less,” he said.
[…] He said his research found that there are “a lot of unhappy lottery winners,” because “people can’t get used to that dramatic of a lifestyle change.”
And also because people often crave for finding outside what can only be lived inside… You can read the full article on: http://www.theprovince.com/Lottery+winner+needs+expert+advises/3762527/story.html#ixzz148v7ADsH